Convert your annual salary to hourly, daily, weekly, biweekly, and monthly pay in Minneapolis, and compare it to the local minimum wage and MIT living wage for 2026.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Minneapolis minimum wage: $15.57/hour | Living wage: $22.00/hour
Median household income in Minneapolis is about $75,000. The applicable minimum wage is $15.57/hour, and the MIT living wage for a single adult is about $22.00/hour. Use the comparisons below to see where a given salary lands.
| Pay Benchmark (Minneapolis) | Hourly | Annual (full-time) |
|---|---|---|
| Applicable minimum wage | $15.57 | $32,386 |
| MIT living wage (single adult) | $22.00 | $45,760 |
| Median household income | $36.06 | $75,000 |
| Standard full-time hours | - | 2,080 hours/year |
Minneapolis is the largest city in Minnesota and the core of the Twin Cities, home to a deep roster of Fortune 500 headquarters (including Target and U.S. Bancorp), major healthcare and medical-device employers, finance, milling and food heritage, and a strong arts scene.
| Local Metric | Minneapolis (2026 estimate) |
|---|---|
| Metro population | 430,000 |
| County / jurisdiction | Hennepin County |
| Cost of living index (US avg = 100) | 106 |
| MIT living wage, single adult | $22.00/hour |
| MIT living wage, one earner supporting a family of four | $44.50/hour |
| Applicable minimum wage | $15.57/hour |
| Average rent, 1-bedroom | $1,350/month |
| Average rent, 2-bedroom | $1,700/month |
| Median home price | $330,000 |
| Median household income | $75,000/year |
| Combined sales tax rate | 8.025% |
| Effective property tax rate | 1.1% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
Divide your annual salary by your total work hours per year (40 hours/week times 52 weeks is 2,080 hours). For example, a $75,000 salary in Minneapolis is about $36.06/hour at full time.
Median household income in Minneapolis is around $75,000. Because the cost-of-living index is 106 (US average = 100) and average 1-bedroom rent is $1,350/month, what counts as comfortable depends heavily on housing costs.
The applicable minimum wage in Minneapolis is $15.57/hour, which is about $32,386/year at full time. Minneapolis sets its own local minimum wage of $15.57/hour for large employers, above the Minnesota statewide rate, and adjusts it each January for inflation.
The MIT Living Wage Calculator estimates a single adult in Hennepin County needs about $22.00/hour, roughly $45,760/year, to cover basic costs without assistance.
At full time, $75,000/year is about $36.06/hour, $6,250/month gross, and $2,885 per biweekly paycheck before taxes.